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FROM THE EDITORS OF CU WEEKLY...

Addressing attendees of the California Credit Union League’s 2014 Government Relations Rally in Sacramento (L-R): Jan Owen, Commissioner for the California Department of Business Oversight (DBO), and Erick Orellana, Deputy Commissioner of Credit Unions for DBO
DBO REPS ADDRESS 'CUOLI' INVESTMENTS
updated 04/14/14 01:05 PM
State CU Update Given
California Department of Business Oversight (DBO) Commissioner Jan Owen and Deputy Commissioner of Credit Unions Erick Orellana gave attendees an overview of the department during the California Credit Union League’s 2014 Government Relations Rally (GRR) last week in Sacramento and welcomed questions from attendees.

When asked about the processing time for Credit Union Owned Life Insurance (CUOLI) applications, Orellana indicated a decision and response to a credit union should take no more than five weeks once DBO receives a complete application.

In a February bulletin sent to credit unions, the DBO stated that, “with the proper due diligence and controls in place, and when installed as part of a well-developed and specialized financing strategy, the DBO generally does not object to the use of CUOLIs.” However, the department expects credit union boards of directors “to exercise reasonable care, skill, and caution when performing its pre-purchase analysis of any such investments.”

Additional guidance is included in the bulletin, including liquidity and concentration risks. The DBO views any concentration of CUOLI in excess of 25 percent of a credit union’s net worth to be a concern. This 25 percent limit is in line with the 2004 Federal Financial Institutions Examination Council (FFIEC) guidance. To view the entire posting, click here and scroll down to the CUOLI Investments for Credit Unions section of February’s posted bulletin.

Orellana also gave an update on the financial health of state-licensed credit unions, and how the department is working with credit unions every day. State-licensed credit unions hold a little more risk than the average credit union in California, but they are “stable and strong,” and financial data keeps improving, Orellana said.

“It’s crucial you are here and tell your story,” Owen said the day before credit union leaders met with state legislators. With respect to questions for the DBO, “we have an open-door policy, and we expect to hear from you,” she said. “We’re here to help.”

 
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CONGRESSMEN CONCERNED OVER RBC RULES
updated 04/09/14 01:18 PM
Questions Arise During Hearing
Reps. Ed Royce, R-CA, and Brad Sherman, D-CA, questioned National Credit Union Administration (NCUA) General Counsel Mike McKenna on the effectiveness of the NCUA's proposed risk-based capital rule during a House Financial Services Committee hearing last week.  

SHOW THE STRENGTH OF CREDIT UNIONS
updated 04/07/14 04:09 PM
Download Project Zip Code
Show the power of credit unions in your congressional district to help strengthen the movement and mitigate harmful legislation. How? With Project Zip Code! 

SENATOR ANTHONY CANNELLA FUNDRAISER
updated 04/01/14 10:18 AM
Your Support is Critical
Credit unions have the opportunity to join the California Credit Union League PAC in supporting this year's Government Relations Rally (GRR) fundraiser for California Sen. Anthony Cannella, R-Ceres. 

CFPB TESTING CARD DISCLOSURE FORMS
updated 03/31/14 12:43 PM
Proposed Rule Being Drafted
The Consumer Financial Protection Bureau (CFPB) has begun consumer testing of model disclosure forms for prepaid cards. 


FEDERAL GOVERNMENT AFFAIRS
California and Nevada’s voice in Washington D.C. The California and Nevada Credit Union Leagues are the only Leagues with a full time staff dedicated to working with Congress, Government Agencies, and Federal Regulators. The resources in this area will help you keep informed of the latest developments and credit union priorities. Continue for more Federal Legislative Updates

STATE GOVERNMENT AFFAIRS
State Government Advocacy efforts brings the voice of credit unions to Sacramento and Carson City. Our advocacy team works daily with elected officials, staff, the executive offices, gubernatorial appointees, and the decision-makers of California and Nevada. This area will keep you updated on all advocacy efforts at the state level of Government.

GRASSROOTS ADVOCACY
Grassroots Advocacy efforts connects you to your government. Whether issues arise at the Federal or State level; you can be an advocate for your credit union by participating in our programs. Using traditional Grassroots tactics, the California and Nevada Credit Union Leagues connects you to our cause.

PAC PROGRAMS
The bipartisan Political Action Committee (PAC) of the California and Nevada Credit Union Leagues’ goal is to support candidates who support credit unions. Find out information about how you can participate and support candidates for office that support credit unions.

PROJECT ZIP CODE
Project Zip Code (PZC) is a user friendly, secure computer program that counts your members and matches them by congressional district, state legislative district and county. These counts are then uploaded to CUNA’s PZC website and combined with data from other credit unions nationwide.

Project Zip Code aids in federal and state advocacy efforts and participation provides operational benefits. To upload Project Zip Code, access FAQs and User Manual, please refer to the following
link.

PUBLIC AFFAIRS
The California and Nevada Credit Union Leagues works to ensure that the media and public are aware of the impact of credit unions in your neighborhoods and communities.

 

 
 
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MEDIA TRAINING PRESENTATION
Click here to access the "Lunch and Learn" Media Training Presentation outline as presented during the CUNA Governmental Affairs Conference. (members only)

 

UPCOMING EVENTS
  2013 Educational Calendar
  2013 Power Learner Passport Educational Opportunities

Nevada Government Relations Rally
February 19, 2013
Carson City, NV

CUNA Governmental Affairs Conference
February 24-28, 2013
Washington, DC

California Government Relations Rally
April 23, 2013
Sacramento, CA

Credit Union SacTown 10-Mile Run
April 7, 2013
Sacramento, CA

 

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